Two lucky Premium Bonds holders have secured a whopping £1million jackpot in the January draw. National Savings and Investments has announced the first big prize winners of 2025.
It was first time lucky for one Gloucestershire winner, as they purchased the winning bond in November 2024. January’s draw was the first their bond was eligible for, as they must be held for a month before they stand a chance of winning a cash prize.
The second winner hailed from Liverpool, and was purchased in March 2022. The Express reports that the NS&I has now reduced the prize fund rate to four per cent, with the odds of winning at 22,000 to one.
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However several winners took home big prizes in the first prize draw of the year, despite previously having very low holdings. One £50,000 winner from Cornwall previously had just £100 in bonds while one person from Birmingham won £25,000 despite only having £25 in bonds.
The winning bonds were chosen at random so each £1 bond has an equal chance of being selected for a prize. Some savers set up their account so whenever they win a prize, the funds were automatically reinvested to buy more bonds, increasing their chances of winning again.
Prizes range from £1million to £25. People can check if they have any prizes to collect using the prize checker tool on the NS&I website.